AXQ Capital LP Makes New $863,000 Investment in Doximity, Inc. (NASDAQ:DOCS)

AXQ Capital LP bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,162 shares of the company's stock, valued at approximately $863,000.

Several other hedge funds also recently added to or reduced their stakes in DOCS. FMR LLC increased its position in shares of Doximity by 30.5% during the third quarter. FMR LLC now owns 6,837,733 shares of the company's stock worth $297,920,000 after purchasing an additional 1,598,602 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Doximity during the third quarter worth approximately $29,453,000. Wilmington Savings Fund Society FSB acquired a new position in Doximity during the third quarter worth approximately $24,691,000. Geode Capital Management LLC lifted its stake in Doximity by 19.8% in the third quarter. Geode Capital Management LLC now owns 2,856,984 shares of the company's stock valued at $124,503,000 after buying an additional 472,565 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Doximity by 254.3% in the third quarter. Retirement Systems of Alabama now owns 534,256 shares of the company's stock valued at $23,278,000 after acquiring an additional 383,480 shares during the period. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Stock Down 6.9 %

Shares of Doximity stock traded down $4.55 on Wednesday, hitting $61.52. The company's stock had a trading volume of 3,046,594 shares, compared to its average volume of 1,897,095. The company has a market capitalization of $11.49 billion, a P/E ratio of 61.52, a price-to-earnings-growth ratio of 4.10 and a beta of 1.34. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21. The firm has a fifty day moving average price of $65.24 and a 200-day moving average price of $54.11.

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Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $57.62, for a total transaction of $1,152,400.00. Following the sale, the director now owns 6,360 shares in the company, valued at approximately $366,463.20. This represents a 75.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DOCS. Canaccord Genuity Group increased their price objective on Doximity from $60.00 to $71.00 and gave the stock a "hold" rating in a research report on Friday, February 7th. Leerink Partners upgraded shares of Doximity from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $90.00 in a research report on Friday, February 7th. Stephens started coverage on shares of Doximity in a research report on Friday, December 20th. They set an "equal weight" rating and a $55.00 price objective for the company. Needham & Company LLC lifted their target price on shares of Doximity from $65.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Mizuho boosted their price target on shares of Doximity from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.22.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.